NGEx Reports on Q1 2015 Financial and Operating Activities

NGEx Resources Inc. (TSX:NGQ) announced its financial and operating results for the first quarter of 2015, noting that it recorded a net loss of $12.6 million, or $0.07 per share. That’s up from $9.4 million, or $0.05 per share, for the year-ago period.

Highlights and significant events include:

Filo del Sol Project, Argentina

• On February 19, 2015, the Company announced the results from the first eight holes of the drill program at the Filo del Sol Project which included 72 metres of 339 g/t silver.
• On April 16, 2015 the Company announced the results from the remaining fourteen holes drilled at the Filo del Sol Project. Highlights included 42 metres of 1.13 g/t gold and 145.6 g/t silver. The drill holes completed this year continue to extend the high-grade silver resource announced on December 2, 2014 and confirm that this resource is part of a much larger mineralized system.

Corporate Activities

• On April 10, 2015, the Company completed the sale of its 60% interest in the Assean Lake claims in Manitoba to VMS Ventures Inc. (“VMS”) for a cash payment of $15,000 and an initial tranche 600,000 common shares of VMS. An additional 1,200,000 shares are payable upon achievement of project milestones.

Click here to read the full NGEx Resources Inc. (TSX:NGQ) press release.